President Joe Biden and congressional leaders are expected to resume debt ceiling talks Tuesday after a scheduled meeting this past Friday was postponed.
Senior administration officials told the Associated Press that preliminary talks between White House and congressional staff for the upcoming meeting had been productive. Officials also said that while a date has not been finalized, given Biden’s travel schedule, Tuesday will most likely be when the meeting occurs.
A meeting last Tuesday did not lead to a compromise between the president and congressional Republicans, who are seeking budget cuts in exchange for an increase in the debt ceiling.
Sources told CNN that in order to raise the debt ceiling by June 1 – the date by which the Treasury Department says the United States may default on its loans – a compromise needs to be reached by the end of this week.
“I’ve been involved in negotiations my whole career,” Biden told CNN. “Some negotiations happen at the last second, some negotiations happen way ahead of time. So, we’ll see.”
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